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Seoul shares open slightly higher ahead of earnings season

Jan. 17, 2023 - 09:41 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)

South Korean stocks opened marginally higher Tuesday, as investors took a breather from recent rallies ahead of the earnings reports.

The benchmark Korea Composite Stock Price Index gained 3.22 points, or 0.13 percent, to trade at 2,403.08 in the first 15 minutes of trading.

After opening higher, the main index had briefly turned lower before reverting to the green, in line with analysts' prediction that trading will likely remain choppy for the day.

Large-cap tech and auto stocks gathered ground, with market behemoth Samsung Electronics rising 0.2 percent and chip giant SK Hynix climbing 1.6 percent.

Top automaker Hyundai Motor also added 0.3 percent.

Battery makers fell. Top player LG Energy Solution shed 0.6 percent and Samsung SDI lost 0.5 percent.

The local currency had been trading at 1,238.20 won against the US dollar as of 9:15 a.m., down 2.9 won from Monday's close. (Yonhap)